Peregrine Pharmaceuticals (PPHM +82%) soars after the company says data on its experimental...

|About: Peregrine Pharmaceuticals Inc. (PPHM)|By:, SA News Editor

Peregrine Pharmaceuticals (PPHM +82%) soars after the company says data on its experimental cancer drug bavituximab was not completely compromised by errors in a mid-stage trial. An internal review found the errors to concern only the lowest dose and placebo arms of the study. This means the drug should be able to enter into a late-stage trial, and PPHM is preparing for discussions with the FDA. PPHM had been tight-lipped about the trial errors since being discovered in September, which had caused shares to plunge.